Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $15.00

Lightspeed Commerce (NYSE:LSPD) had its price objective decreased by Wells Fargo & Company from $17.00 to $15.00 in a report issued on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

LSPD has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their target price on shares of Lightspeed Commerce from $17.00 to $16.00 and set a neutral rating for the company in a research note on Friday, May 17th. National Bankshares upped their price objective on shares of Lightspeed Commerce from $15.00 to $16.00 and gave the stock a sector perform rating in a report on Friday, May 17th. TD Securities raised their target price on Lightspeed Commerce from $14.00 to $16.00 and gave the company a hold rating in a report on Friday, May 17th. Bank of America upped their price target on Lightspeed Commerce from $19.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, May 17th. Finally, Jefferies Financial Group raised their price objective on Lightspeed Commerce from $14.00 to $16.00 and gave the company a hold rating in a research note on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $18.19.

Lightspeed Commerce Stock Down 9.5 %

LSPD stock opened at $11.92 on Wednesday. The company has a 50 day moving average of $13.99 and a two-hundred day moving average of $14.38. The company has a quick ratio of 6.23, a current ratio of 6.34 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12-month low of $11.80 and a 12-month high of $21.71. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -11.14 and a beta of 2.33.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, May 16th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.16. Lightspeed Commerce had a negative return on equity of 0.98% and a negative net margin of 15.55%. The firm had revenue of $230.22 million for the quarter, compared to the consensus estimate of $224.08 million. On average, equities analysts anticipate that Lightspeed Commerce will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Institutional investors have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP acquired a new position in Lightspeed Commerce in the 1st quarter valued at approximately $34,984,000. Norges Bank acquired a new position in shares of Lightspeed Commerce in the fourth quarter valued at $25,993,000. Hillsdale Investment Management Inc. lifted its position in Lightspeed Commerce by 365.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,348,120 shares of the company’s stock worth $28,317,000 after purchasing an additional 1,058,320 shares during the period. Azora Capital LP boosted its stake in Lightspeed Commerce by 133.1% during the fourth quarter. Azora Capital LP now owns 1,579,312 shares of the company’s stock worth $33,166,000 after buying an additional 901,861 shares in the last quarter. Finally, NewGen Asset Management Ltd bought a new stake in Lightspeed Commerce in the 2nd quarter valued at $9,241,000. 68.68% of the stock is owned by institutional investors and hedge funds.

About Lightspeed Commerce

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.